HIGHLIGHTS:
- The American Bureau of Shipping (ABS), has reviewed, verified, and approved the design of Provaris’ 26,000m3 H2Neo compressed hydrogen (H2) carrier, the first of its kind to receive this level of approval.
- Completion of the extensive Front End Engineering Design (FEED) and approval milestone were achieved on time and under budget.
- Approval allows shipbuilders to provide firm quotations for the construction of a fleet of H2Neo Carriers.
- Our focus now moves to shipyard selection with world-leading ship broker Clarksons engaged to conclude a global shipyard identification and selection process in early 2023.
- Design approval maintains first-mover status for compressed H2 to deliver bulk-scale marine storage and transport solutions for the hydrogen industry, with our target to execute shipbuilding contracts for the H2Neo in late 2023 and commence large-scale hydrogen shipping in 2026.
- ABS approval for the H2Neo Carrier confirms that our design approach to compressed hydrogen ships is sound and will allow us to also progress the development of our larger 120,000m3 H2Max carrier and hydrogen storage barges, to provide additional capability and capacity to fulfil the expected strong future demand for hydrogen.
Provaris Energy Ltd is pleased to advise that the American Bureau of Shipping (ABS), has reviewed, verified, and approved the design of the 26,000m3 H2Neo compressed H2 carrier (H2Neo). This critical milestone approval follows the completion of extensive Front End Engineering Design (FEED) work and ABS review activities. It confirms that our innovative and cost-effective multi-layered hydrogen tank can be incorporated into our H2Neo Carrier and meets the requirements for Ship Classification.
The next steps in our journey to world-scale hydrogen shipping are to construct and test a prototype hydrogen tank, and to prepare for ship construction with a selected shipyard(s).
ABS is one of the largest and most respected Classification Societies that are focused on ship safety and excellence in design and construction.
Provaris’ Chief Technical Executive Officer, Per Roed comments: “The success of our FEED design stage and corresponding approval milestone is the result of extensive design and engineering works by Provaris’ team of discipline experts and consultants that have actively contributed to the development of Provaris’ innovative H2Neo hydrogen carrier. Through our close collaboration with ABS throughout this three-year process, we are confident that our compressed hydrogen carriers can safely and effectively establish the maritime transportation of hydrogen at a time when storage and transport remain key to unlocking markets with ambitions for hydrogen imports at scale from 2026.”
ABS’ Senior Vice President - Global Engineering and Technology, Patrick Ryan commented: “ABS recognizes the potential that hydrogen shows in supporting a sustainable, lower carbon future. Safe and efficient storage and transportation of hydrogen at sea will be critical to the development and viability of the global hydrogen value chain. We have been working closely with Provaris, initially granting AIP in 2021 and subsequently reviewing their comprehensive FEED level package for the H2Neo.
ABS is pleased to award Provaris approval of their design, and we look forward to continuing this relationship into continued testing and construction stages of H2Neo carriers, including a yard selection process, and to support Provaris during ship operations on the numerous, interesting projects on the H2 horizon.”
Provaris’ Managing Director & Chief Executive Officer, Martin Carolan added: “Compressed H2 can deliver a safe, economic and energy-efficient hydrogen shipping and transport solution that is essential to meet the climate targets for 2030 and beyond. Provaris has set itself ambitious targets for the detailed engineering and approvals required to develop the H2Neo carrier, and I am pleased to say our team has delivered on time and under budget a unique approach to marine hydrogen transport that is also a world first.
Our marketing program over 2022 continues to raise the awareness of compressed H2 as a first mover and feasible alternative for regional hydrogen trades. We expect this approval milestone to assist with the validation requirements in our commercialisation pipeline, transition Provaris to construction award status in 2023, and de-risk the development and approvals pathway for our large-scale H2Max carrier and our design for hydrogen storage barges.”
